A Multi-Tenant Retail Property Sells For $2M In Milford

ORANGE, CT – A multi-tenant property on .81 acres has sold for $2 million in Milford.

Michael Richetelli, president and Designated Broker of Colonial Properties, Inc., representing the seller, Milford Post Associates, LLC, said Colony Parks, LLC., bought the property at 1590 Boston Post Rd. for $2 million.

“Due to its superior location and stable tenants, this property was a very sought-after asset, which generated significant interest,” he said.

Richetelli said the current tenants of the retail property are Mattress Firm and Tropical Smoothie Café occupying the two buildings totaling 7,667 square feet.

“The corner property was essentially a pad site for the Milford Marketplace Lifestyle Shopping Center featuring Whole Foods and was positioned in between Costco and the Connecticut Post Mall in the most desirable section of Route 1,” Richetelli said. “The sale demonstrates the continued strong demand for retail investment properties.

Colonial Properties, Inc., founded in 1978, is a full-service Commercial and Residential Real Estate Brokerage located in Orange.